Financings in Brief: Instrumentation Laboratory SpA
This article was originally published in The Gray Sheet
Executive Summary
Instrumentation Laboratory SpA: Grosses $37.5 mil. from initial public offering of American Depositary Shares completed on Oct. 31. About 3.1 mil. shares priced at $12 each were offered by the firm. An additional 2.2 mil. shares were offered by selling shareholders. Underwriters Salomon Brothers, Dillon, Read & Co and UBS Securities have an overallotment option for 804,733 additional shares. In conjunction with the public offering, the firm also is issuing 1.9 mil. ordinary shares "most of which are being purchased by the company's majority shareholder," the firm states. Net proceeds from the stock sales will be used to repay debt...